With the global palm oil market valued at approximately $70.44 billion in 2023 and projected to grow at a compound annual growth rate (CAGR) of 5.1 per cent from 2024 to 2030, to $100 billion by 2030, the National President of All Farmers Association of Nigeria (AFAN), Arc Kabir Ibrahim, has disclosed that Nigeria can capture a significant portion of the global palm oil market and reclaim its position as a leading producer if all hands are on deck.
Ibrahim, in an interview with the New Telegraph, said that Nigeria’s palm oil production potential was incredibly enormous and could compete on the world stage.
He said that Nigeria had over 10 million hectares of arable land suitable for oil palm cultivation, with the potential to increase output significantly.
Read more at Newtelegraphng
Ibrahim, in an interview with the New Telegraph, said that Nigeria’s palm oil production potential was incredibly enormous and could compete on the world stage.
He said that Nigeria had over 10 million hectares of arable land suitable for oil palm cultivation, with the potential to increase output significantly.
Read more at Newtelegraphng